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Sector to Reach $3.5 Billion by 2027 at an 11% CAGR

Table of Contents

DUBLIN, Jan. 23, 2023 /PRNewswire/ — The “Supply Chain Security Market by Component (Hardware, Software, Services), Security Type (Data Locality & Protection, Data Visibility & Governance), Organization Size, Application (Healthcare & Pharmaceuticals, FMCG) and Region – Global Forecast to 2027” report has been added to  ResearchAndMarkets.com’s offering.

The publisher forecasts that the global supply chain security market will grow from an estimated USD 2.0 billion in 2022 to USD 3.5 billion by 2027 at a compound annual growth rate (CAGR) of 11.0%. One of the factors driving the market growth is the increasing need for supply chain transparency.

By components, services segment is to grow at the highest CAGR during the forecast period

Supply chain security is an important supply chain management (SCM) segment. It primarily manages the risks of transportation, logistics, vendors, and suppliers. Professional security analysts ensure support with incident response and remote client assistance during suspicious activities. Professional services such as support and maintenance, training, and education are a part of this segment. With the increased adoption of supply chain security, there is an increased demand for these services, further boosting the market growth. The services segment includes numerous services required to deploy, execute, and maintain supply chain security solutions in organizations. This supply chain security market segment is classified into training and consultation, integration and deployment, and support and maintenance.

By services, integration, and deployment services to grow at highest CAGR during forecast period

Tailored supply chain security deployment and integration services are offered by integration and deployment service providers. These services are used by highly qualified industry experts, domain experts, and security professionals that assist organizations in formulating and implementing supply chain security strategies, preventing revenue losses, minimizing risks, understanding cybersecurity solutions, and enhancing security in the existing information system.

In system integration, the vendor’s security services are integrated with the client’s security system without hampering the existing client’s system. Benefits, such as reduced risks and complexity, are offered by design and integration services. This enhances security and enables resiliency to cyberattacks by identifying vulnerable or potentially exploited components at all supply chain stages.

Market Dynamics

Drivers

  • Rising Incidences of Cyberattacks Across Supply Chains
  • Growing Need for Supply Chain Transparency
  • Increasing Demand for Enhanced Security of Supply Chain Transactions

Restraints

  • Budgetary Constraints Among Small and Emerging Startups in Developing Economies

Opportunities

  • Improving Risk Prediction and Management
  • Widespread Adoption of Automation Technology Across Value Chain
  • Increasing IoT Devices in Supply Chain

Challenges

  • Limited Awareness About Supply Chain Security Among Organizations

Key Topics Covered: 

1. Introduction

2. Research Methodology

3. Executive Summary

4. Premium Insights

5. Market Overview and Industry Trends

6. Supply Chain Security Market, by Component

7. Market, by Security Type

8. Market, by Organization Size

9. Market, by Application

10. Market, by Region

11. Competitive Landscape

12. Company Profiles

13. Adjacent Markets

14. Appendix

Companies Mentioned

  • Altana Ai
  • Berlinger & Co. Ag
  • C2A Security
  • Cold Chain Technologies
  • Controlant
  • Dickson
  • Elpro
  • Emerson
  • Fourkites
  • Hanwell Solutions
  • Ibm
  • Logtag Recorders
  • Monnit
  • Nxp Semiconductors
  • Omega Compliance
  • Oracle
  • Orbcomm
  • Roambee
  • Rotronic
  • Safetraces
  • Sensitech
  • Signatrol
  • Tagbox Solutions
  • Testo
  • Tive

For more information about this report visit https://www.researchandmarkets.com/r/cok35b

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